CARICOM Trade Bloc 'In Crisis'

CARICOM Trade Bloc 'In Crisis': "The Caribbean Community (CARICOM), an economic bloc among Caribbean territories, is at breaking point, according to a document circulated among its fifteen member states which urges rapid structural and operational reform.

A report published ahead of CARICOM's March plenary urges members to commit to "fundamental changes" in the management structure and workings of the CARICOM Secretariat to avoid members from "voting with their feet", leading to a break-up of the group.

The report, 'Turning Around CARICOM: Proposals to Restructure the Secretariat', says that a "crisis" within CARICOM "is sufficiently severe to put CARICOM's very existence in question". The report warns of members' frustration over excessive bureaucracy and political apathy which have stymied progress in recent years, in addition to the economic strain put on the block by the financial crisis."

'via Blog this'